The amount of student loan debt in the United States continues to grow — with more than $1.8 trillion in outstanding student loans. This includes federal and private loans. Nearly 43 million Americans currently have student loan debt.
The statistics on student loan debt are scary, but how do you compare? We broke down the net worth of millennials by age — today we’re dealing with average student loan debt by age — or rather, by the year you graduated from college.
While we would ideally like to assume how much debt you have by age, this is nearly impossible. But fortunately we were able to compile statistics by average amounts of student loan debt by the year you graduated from college.
Even though total student loan debt is down for the first time ever (due to various loan forgiveness programs implemented), recent graduates still have to borrow to pay for school — and current college students are borrowing student loans right now. It is impossible to break the cycle of student loan debt until the cost of higher education is addressed.
With that in mind, let’s break it down.
Related to: Student loan statistics
Current status of student loan debt
First, let’s analyze the current state of student loan debt in 2025:
- Average student loan debt:$39,375
- Average student loan debt:$20,281
- Average student loan repayment:$503
- Average student loan repayment:$290
You can find the full breakdown of average student loan repayment in our other study here.
From 1990 to 2013, the growth in student loan debt outpaced the growth in the student population, going from $24 billion to $110 billion annually, a 352% increase in loans. During the same period, the number of student borrowers increased by 40%:
The increase in borrowing coincides with an increase in tuition fees.
Entering 2011, student loan delinquencies greater than 90 days were on the rise. After a slight decline, it jumped to over 11% at the beginning of 2018 and has stabilized since then. You can learn more here.
Average student loan debt by year
How do you compare with other students who graduated in your class?
here Average debt by year of graduation. These numbers are the “at graduation” number for students who graduate with a bachelor’s degree. As you can see from above, the numbers grow after graduation…
Remember that the numbers are usually higher for graduate school or other programs.
Graduation class | Average student loan debt |
|---|---|
1993 | $9,320 |
1994 | $10,349 |
1995 | $11,491 |
1996 | $12,759 |
1997 | $13,767 |
1998 | $14,855 |
1999 | $16,030 |
2000 | $17,297 |
2001 | $17,616 |
2002 | $17,940 |
2003 | $18,271 |
2004 | $18,005 |
2005 | $18,118 |
2006 | $18,208 |
2007 | $18,320 |
2008 | $19,300 |
2009 | $20,470 |
2010 | $21,806 |
2011 | $23,240 |
2012 | $24,760 |
2013 | $26,270 |
2014 | $27,760 |
2015 | $29,140 |
2016 | $30,550 |
2017 | $32,090 |
2018 | $33,550 |
2019 | $35,210 |
2020 | $36,510 |
2021 | $37,110 |
2022 | $37,570 |
2023 | $37,650 |
2024 | $37,850 |
Read the study here.
The rapid rise of education
Large tuition increases are not a recent phenomenon. Tuition fees began to rise steadily in the 1980s. Take a look at the chart below? Politicians are not wrong when they say you were able to afford college!
Can you imagine paying $617 a year just to attend school? Well, this is what it would have cost (not adjusted for inflation). Even when you adjust the 1977 to 2021 dollar for inflation, you’re still only at $2,607 per year!
Here’s information on four-year public schools (data is hard to come by, but we sampled the past four decades):
Academic year | Cost of tuition fees |
|---|---|
1976 – 1977 | $2,607 |
1979 – 1980 | $2294 |
1983 – 1984 | $2,541 |
1987 – 1988 | $3190 |
1997 – 1998 | $4,740 |
2007 – 2008 | $7280 |
2012 – 2013 | $8000 |
2018 – 2019 | $10,230 |
2019 – 2020 | $10,440 |
2020 – 2021 | $10,560 |
2025 – 2026 | $11,950 |
**Note: The above table is adjusted for inflation for 2025 dollars. Read the report here.
You can see how this compares to the most expensive colleges in the US.
How Much Student Loan Debt Should You Have?
The short answer: As little as possible.
The long answer: It depends on the ROI of your college degree.
The amount of student loan debt really depends on how much you earn after graduating from college. Remember, the goal of your student loan debt is to advance your career goals, which in turn should earn you more money.
Furthermore, it’s important to remember that collateralizing your student loan debt is your profits.
To make your student loan debt “worth it,” you need to maximize your earning potential.
A good rule of thumb is to never borrow more than you expect to earn in your first year after graduation. For most borrowers of student loan debt this year (the average is $30,600), this is possible in most career options.
Where people really get into trouble is when they borrow more than average. Even if you’re borrowing above average, you can see a return on investment if you get student loan forgiveness.
Frequently asked questions about average student loan debt
Here are some common questions we receive about average student loan debt all the time:
How much is the average student loan debt?
The average student loan debt in 2025 is $39,375.
What is the average student loan debt?
The average student loan debt in 2025 is $20,281.
How much student loan debt will graduates have in 2023?
The average graduate earning a bachelor’s degree in 2024 will have $37,850 in student loan debt.
What is total student loan debt?
Currently, there is $1.8 trillion in outstanding student loan debt. The largest portion of this debt is federal student loan debt, followed by private loans.
Final thoughts
Student loan debt can be worth it — if the loans are borrowed with a clear return on investment.
What most borrowers get into trouble with is that they borrow more than average. They also take out large amounts of private student loans, which have fewer repayment plan options than federal loans.
So, if you have student loan debt – how do you compare? Were you (or are you) above average or below average for your class?
Editor: Clint Proctor
Reviewed by: Claire Tuck
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